The Elk Point City Council worked quickly through a short agenda at a special meeting Tuesday, Feb. 18.
Two items concerned the Spink Family Restaurant (Sam and Rhonda Otten). The council held a public hearing and then approved a Retail On and Off Sale Malt Beverage and South Dakota Farm Wine license and the transfer from MJC Investments LLC of a Retail On-Sale Liquor License.
The last agenda item was setting the date for an election to consider the issuance of $1.5 million in bonds to pay for a new swimming pool. The council decided to hold it in conjunction with the regular municipal election Tuesday, April 14.
Thomas Grimmond of Dougherty & Company LLC was present at the meeting to answer questions about the bond. His firm will underwrite the bonds. The bonds will be issued for 20 years, at approximately 2.6 percent interest. At that rate, he estimates the cost to a property owner, owner-occupied, will be about $88 a year per $100,000 of valuation.
Watch for more information closer to the election date.